For Males
For Year 2008-2009
For Females
For Year 2008-2009
For Senior Citizen
For Year 2008-2009
*A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000.
Note : -
· Education cess is applicable @ 3 per cent on income tax, inclusive
of surcharge if there is any.
· A marginal relief may be provided to ensure that the additional IT
payable, including surcharge, on excess of income over
Rs 1,000,000 is limited to an amount by which the income is
more than this mentioned amount.
How to calculate tax
Example : Let us take a case where the female assessee's income is Rs. 3,50,000.
· According to the Income Tax Slab, the first 1,80,000 is not taxable.
· The next Rs. 1,20,000 (3,00,000 - 1,80,000) is taxable @10%.
(10% of Rs. 1,20,000 = Rs. 12,000).
· The remaining Rs. 50,000 is taxable @20%. i.e. 3,50,000 - (1,80,000+1,20,000)
(20% of Rs. 50,000 = Rs. 10,000).
· Therefore, the net Income Tax Payable is Rs. 12,000 + Rs. 10,000 = Rs. 22,000
Income Tax Rates for Year 2008-09
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Day Trading Shares
Welcome to the Indian Share Market
D T S
Taxable Annual Income Slab (In Rs.)
Tax Rate (In %)
Upto Rs. 1,50,000/-
Nil
Rs. 1,50,001/- to Rs. 3,00,000/-
10%
Rs. 3,00,001/- to Rs. 5,00,000/-
20%
Above Rs. 5,00,000/-
30%
Taxable Annual Income Slab (In Rs.)
Tax Rate (In %)
Upto Rs. 1,80,000/-
Nil
Rs. 1,80,001/- to Rs. 3,00,000/-
10%
Rs. 3,00,001/- to Rs. 5,00,000/-
20%
Above Rs. 5,00,000/-
30%
Taxable Annual Income Slab (In Rs.)
Tax Rate (In %)
Upto Rs. 2,25,000/-
Nil
Rs. 2,25,001/- to Rs. 3,00,000/-
10%
Rs. 3,00,001/- to Rs. 5,00,000/-
20%
Above Rs. 5,00,000/-
30%
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